FMC allows Blackstone to raise stake in MCX to 4.99 per cent

The Forward Markets Commission (FMC) has allowed US private equity firm Blackstone to raise its stake in Multi Commodity Exchange (MCX) to 4.99 per cent.

Commodity market regulator FMC accorded its approval to Blackstone GPV Capital Partners (Mauritius) VI FII Ltd to increase its stake in the company up to 4.99 per cent through secondary market transactions, MCX said in a regulatory filing on Wednesday.

According to data available with the BSE, Blackstone held 2 per cent of the exchange's equity as of September 30.

Increasing its stake to 4.99 per cent would make Blackstone the largest non-promoter shareholder in MCX, ahead of Aginyx Enterprises Ltd and IFCI Ltd, which each hold 4.79 per cent in the bourse.

Other shareholders include Euronext NV (4.73 per cent), National Bank for Agriculture and Rural Development (3.06 per cent), Merrill Lynch Holdings Mauritius (2.79 per cent), Bennett Coleman & Company Ltd (2.24 per cent) and Corporation Bank (2.24 per cent).

Shares in MCX, on Wednesday, ended at Rs 421.35 apiece on the BSE, up 8.29 per cent from the previous close.